Daily Pivots: (S1) 1.0900; (P) 1.0969; (R1) 1.1036; More…

Intraday bias in EUR/USD remains on the downside at this point. Corrective rebound from 1.0635 could have completed at 1.1147 already. Retest of 1.0635 low should be seen next. On the upside, however, decisive break of 61.8% retracement of 1.1496 to 1.0635 at 1.1167 will raise the chance of larger trend reversal and turn focus to 1.1496 key resistance.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

Daily Pivots: (S1) 1.0762; (P) 1.0799; (R1) 1.0829; More…

Intraday bias in EUR/USD is turned neutral with 4 hour MACD crossed above signal line. On the upside, break of 1.0902 minor resistance will suggest completion of fall from 1.1147. Correction from 1.0635 should have then started the third leg. Intraday bias will be turned back to the upside for 61.8% retracement of 1.1496 to 1.0635 at 1.1167 again. On the downside, below 1.0768 will target a test on 1.0635 low.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

EUR/USD recovered strongly after choppy fall from 1.1249 extended to 1.1051. Initial bias is mildly on the upside for extending the consolidation pattern from 1.1026. Upside should be limited by 1.1249 resistance to bring down trend resumption. Break of 1.1051 will target 1.1026 low and below. However, sustained break of 1.1249 will have 55 day EMA taken out too. Stronger rise should then be seen to 1.1412 key resistance.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress and extending. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

In the long term picture, outlook remains bearish for now. EUR/USD is held below decade long trend line that started from 1.6039 (2008 high). It was also rejected by 38.2% retracement of 1.6039 to 1.0339 at 1.2516 before. A break of 1.0039 low will remain in favor as long as 55 month EMA (now at 1.1632) holds.

Daily Pivots: (S1) 1.0858; (P) 1.0907; (R1) 1.0932; More…

EUR/USD’s break of 55 4H EMA (now at 1.0900) indicates short term topping at 1.0980. Intraday bias is back on the downside for 1.0797 support. Firm break there will argue that rebound from 1.0694 has completed and bring retest of this low. For now, risk will stay on the downside as long as 1.0980 resistance holds, in case of recovery.

In the bigger picture, price actions from 1.1274 are viewed as a corrective pattern to rise from 0.9534 (2022 low). Rise from 1.0447 is seen as the second leg. While further rally could cannot be ruled out, upside should be limited by 1.1274 to bring the third leg of the pattern. Meanwhile, sustained break of 1.0694 support will argue that the third leg has already started for 1.0447 and possibly below.

EUR/USD rebounded after initial dip to 1.0339 last week. Initial bias stays neutral this week first. As long as 1.0652 holds, outlook stays bearish and another decline is expected. Break of 1.0339 will extend the larger down trend to parity next. However, break of 1.0652 will now confirm short term bottoming and turn near term outlook bullish for stronger rebound to 1.0872 resistance first.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. On the upside, break of 1.1298 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

In the long term picture, the down trend from 1.6039 (2008 high) is still in progress and there is no clear sign of completion. We’d expect more downside towards 0.8223 (2000 low) as long as 1.1298 resistance holds.

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Daily Pivots: (S1) 1.0536; (P) 1.0577 (R1) 1.0597; More…..

Intraday bias in EUR/USD remains neutral for the moment. With 1.0678 minor resistance intact, deeper decline is still expected. We’re viewing fall from 1.0828 as resuming the larger down trend. Below 1.0493 will target 1.0339 low first. Break will confirm our bearish view and target parity. However, break of 1.0678 will dampen our view and turn focus back to 1.0828 resistance instead.

In the bigger picture, whole down trend from 1.6039 (2008 high) is in progress. Such down trend is expected to extend to 61.8% projection of 1.3993 to 1.0461 from 1.1298 at 0.9115. On the upside, break of 1.1298 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.0822; (P) 1.0869; (R1) 1.0951; More…

EUR/USD’s breach of 1.0929 suggests rally resumption. Intraday bias is back on the upside for 1.1032 high first. Decisive break there will resume larger up trend from 0.9534 to 1.1273 fibonacci level next. On the downside, break of 1.0787 support will turn bias back to the downside for 1.0711 support instead.

In the bigger picture, rise from 0.9534 (2022 low) is in progress with 38.2% retracement of 0.9534 to 1.1032 at 1.0460 intact. The strong support from 55 week EMA (now at 1.0625) was also a medium term bullish sign. Next target is 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

Daily Pivots: (S1) 1.1136; (P) 1.1136; (R1) 1.1191; More…..

EUR/USD’s rise extends further today and it’s now pressing 1.1263 key near term resistance. At long as this resistance holds, outlook will stay bearish. That is, larger down trend from 1.2555 should resume sooner rather than later through 1.1107 low. However, considering bullish convergence condition in daily MACD, firm break of 1.1263 will be an early sign of medium term bottoming. Intraday bias will be turned back to the upside for 1.1448 resistance for confirmation.

In the bigger picture, down trend from 1.2555 (2018 high) is still in progress. Such decline would target 78.6% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.0813 next. Sustained break there will pave the way to retest 1.0339. On the upside, break of 1.1448 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1205; (P) 1.1220; (R1) 1.1239; More…

EUR/USD’s recovery was rejected by falling 4 hour 55 EMA again but stays above 1.1193 support. Intraday bias remains neutral for the moment first. On the downside, break of 1.1193 will resume the fall from 1.1412 to retest 1.1107 low. On the upside, above 1.1285 resistance will turn bias back to the upside for 1.1412 resistance.

In the bigger picture, bullish convergence condition in daily and weekly MACD suggests that 1.1107 is a medium term bottom. However, rejection by 55 EMA retains medium term bearish. Outlook will be neutral for now. On the downside, break of 1.1107 will resume the down trend from 1.2555 (2018 high) to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Meanwhile, break of 1.1412 will resume the rebound to 38.2% retracement of 1.2555 to 1.1107 at 1.1660.

Daily Pivots: (S1) 1.1851; (P) 1.1884; (R1) 1.1931; More….

Intraday bias in EUR/USD remains neutral for the moment. On the upside, break of 1.1951 support turned resistance will indicate short term bottoming and turn bias to the upside. Strong rebound would be seen back towards 1.2242 resistance. However, break of 1.1834 will now extend the correction from 1.2348 to 38.2% retracement of 1.0635 to 1.2348 at 1.1694.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds. We’d be alerted to topping sign around 1.2516/55. But sustained break there will carry long term bullish implications.

Daily Pivots: (S1) 1.0897; (P) 1.0911; (R1) 1.0931; More…

EUR/USD is losing some downside momentum as seen in 4 hour MACD. But intraday bias remains on the downside for 1.0879 low. Firm break there will resume larger down trend for 1.0813 fibonacci level next. On the upside, above 1.0957 minor resistance will turn intraday bias neutral first. But recovery should be limited by 1.0992 support turned resistance to bring fall resumption.

In the bigger picture, rebound from 1.0879 is seen as a corrective that might have completed after rejection by 55 week EMA. Break of 1.0879 will resume the down trend from 1.2555 (2018 high) for 78.6% retracement of 1.0339 (2017 low) to 1.2555 at 1.0813. Sustained break there will pave the way to retest 1.0339 low. For now, this will remain the favored case as long as 1.1239 resistance holds.

Daily Pivots: (S1) 1.1789; (P) 1.1824; (R1) 1.1846; More…..

Range trading continues in EUR/USD below 1.1880 temporary top and intraday bias stays neutral. With 1.1688 support intact, further rise remains in favor. On the upside, break of 1.1880 will target a test on 1.2011 high. On the downside, though, break of 1.1688 will likely extend the corrective pattern from 1.2011 with another leg. Intraday bias will be turned back the downside for 1.1612 and below.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1422 resistance turned support holds.

Daily Pivots: (S1) 1.0476; (P) 1.0523 (R1) 1.0555; More…

Intraday bias in EUR/USD remains neutral at this point and some more consolidations could be seen. Upside of recovery should be limited by 1.0756 support turned resistance to bring fall resumption. Break of 1.0470 will target 161.8% projection of 1.1494 to 1.0805 from 1.1184 at 1.0069.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1185 support turned resistance holds. The break of 1.0635 (2020 low) now raises the chance that it’s resuming long term down trend from 1.6039 (2008 high). Retest of 1.0339 (2017 low) low should be seen next. Decisive break there will confirm this bearish case.

Daily Pivots: (S1) 1.0818; (P) 1.0845; (R1) 1.0872; More…

Intraday bias in EUR/USD remains neutral for the moment. On the upside, break of 1.0929 will resume the rally from 1.0515 to retest 1.1032 high. Decisive break there will resume larger up trend from 0.9534 to 1.1273 fibonacci level next. On the downside, though, break of 1.0711 will turn bias to the downside to extend the corrective pattern from 1.1032 with another decline.

In the bigger picture, rise from 0.9534 (2022 low) is in progress with 38.2% retracement of 0.9534 to 1.1032 at 1.0460 intact. The strong support from 55 week EMA (now at 1.0623) was also a medium term bullish sign. Next target is 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high).

Daily Pivots: (S1) 1.0632; (P) 1.0730; (R1) 1.0824; More…

Intraday bias in EUR/USD remains neutral for the moment as consolidation from 1.0635 is extending. Further rise cannot be ruled out but upside should be limited by 1.0981 resistance to bring fall resumption. On the downside, break of 1.0635 will extend larger down trend for 1.0397 projection target next. However, sustained break of 1.0981 will indicate stronger rebound is underway back towards 1.1496 key resistance.

In the bigger picture, whole down trend form 1.2555 (2018 high) should have resumed. Next target is 61.8% projection of 1.2555 to 1.0777 from 1.1496 at 1.0397. This level is close to 1.0339 (2017 low). On the upside, break of 1.1496 resistance is needed to indicate medium term reversal. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.1468; (P) 1.1512; (R1) 1.1587; More…..

Intraday bias in EUR/USD remains on the upside at this point. The strong break of 1.1499 resistance should confirm completion of fall from 1.1814 at 1.1215. Current rebound might indeed be correcting whole decline from 1.2555, if not reversing the down trend. Further rise should be seen to 1.1621 resistance first. Break will target 38.2% retracement of 1.2555 to 1.1215 at 1.1727 next. On the downside, break of 1.1422 support is needed to indicate completion of the rebound. Otherwise, further rise will now remain in favor in case of retreat.

In the bigger picture, as long as 1.1814 resistance holds, down trend down trend from 1.2555 medium term top is still in progress and should target 61.8% retracement of 1.0339 (2017 low) to 1.2555 at 1.1186 next. Sustained break there will pave the way to retest 1.0339. However, break of 1.1814 will confirm completion of such down trend and turn medium term outlook bullish.

Daily Pivots: (S1) 1.1678; (P) 1.1729 (R1) 1.1759; More…

EUR/USD reaches as low as 1.1669 so far as fall from 1.2091 extends. Intraday bias remains on the downside for 38.2% retracement of 1.0569 to 1.2091 at 1.1510. Such decline is seen as a correction to whole rise from 1.0569. We’re expecting support from 1.1510 to bring rebound. On the upside, break of 1.1832 minor resistance will suggest that the corrective fall is completed and turn bias back to the upside.

In the bigger picture, rise from medium term bottom at 1.0339 is not finished yet. It’s expected to continue after pull back from 1.2091 completes. And, next target will be 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. However, it should be noted that there is no confirmation of trend reversal yet. That is, such rebound from 1.0399 could be a correction. And the long term fall from 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside.

Daily Pivots: (S1) 1.0000; (P) 1.0037; (R1) 1.0074; More…

Further decline is still expected with 1.0189 minor resistance intact. Current down trend should target 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937. Firm break there could prompt downside acceleration to 161.8% projection at 0.9420. On the upside, break of 1.0189 minor resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, outlook will stay bearish as long as 1.0773 resistance holds, in case of rebound.

Daily Pivots: (S1) 1.1853; (P) 1.1873; (R1) 1.1905; More…

No change in EUR/USD’s outlook and focus stays on 1.1880 resistance. Firm break there will firstly indicate short term bottoming at 1.1751, on bullish convergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for 1.1974 resistance first. Sustained break there will argue that whole corrective pattern from 1.2348 has completed, and bring stronger rise back to 1.2265/2348 resistance zone. On the downside, break of 1.1751 will resume the fall from 1.2265, as the third leg of correction from 1.2348, to 1.1703 support.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds. Reaction from 1.2555 should reveal underlying long term momentum in the pair. However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again.

Daily Pivots: (S1) 1.1707; (P) 1.1721; (R1) 1.1743; More…

Intraday bias in EUR/USD remains on the downside with 1.1788 minor resistance intact. Fall from 1.1908 would target 1.1663 support. Firm break there will resume the fall from 1.2265, and the pattern from 1.2348, to 1.1602 key support next. On the upside, above 1.1788 minor resistance will turn bias back to the upside for 1.1908 again.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally remains in favors long as 1.1602 support holds, to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). However sustained break of 1.1602 will argue that the rise from 1.0635 is over, and turn medium term outlook bearish again. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289 and below.